With the once unthinkable now real—an NDP government in Alberta—businesses and oil magnates are bracing for change and the shattered Progressive Conservative (PC) machine is left to look within about where it all went wrong.
The oilpatch and Bay Street reacted swiftly on Wednesday, the day after the election: energy stocks were down about 2.75 percent and major oilsands producer Cenovus Energy Inc. was down six percent. Suncor Energy Inc. and Canadian Natural Resources Ltd. were down about 3 percent.
Those jitters could either ease or worsen. Many are awaiting more details before they pass judgment.
The NDP’s landslide after 44 years of PC rule stunned Sonny Mottahed, president and CEO of Black Spruce Merchant Capital in Calgary.
My job is to represent all Albertans, and job creation is a good part of that.
